Fitch Ratings assigns the following ratings and Outlooks to GE Dealer Floorplan Master Note Trust, Series 2012-2:
--$750,000,000 class A notes 'AAAsf'; Outlook Stable;
--$15,790,000 class B notes 'Asf'; Outlook Stable;
--$23,684,000 class C notes 'BBBsf'; Outlook Stable.
Fitch's ratings are based on the diversified receivables pool, strong trust performance, sound origination and servicing practices of GE Commercial Distribution Finance, and transaction structure, which includes an unrated D class. The issuance of the 2012 - 2 series is not expected to adversely impact the performance of the outstanding series within the trust, which includes 2009 - 1, and 2009 - 2, 2011 - 1, 2012 - 1 and any private series rated by Fitch.
The presale report is available to all investors on Fitch's website at 'www.fitchratings.com'. For more information about Fitch's comprehensive subscription service FitchResearch, which includes all presale reports, surveillance, and credit reports on more than 20 asset classes, contact product sales at +1-212-908-0800 or at 'webmaster@fitchratings.com'.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Global Rating Criteria for Dealer Floorplan ABS' (Jan. 25, 2012);
--'Global Structured Finance Rating Criteria' (Aug. 4, 2011).
Applicable Criteria and Related Research:
Global Rating Criteria for Dealer Floorplan ABS
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=666405
Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569
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